Insider trades are a big hit, but this is a good sign!

There were a few notable insider trades, despite the fact that US stocks closed higher on Wednesday.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. This signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. It can give conviction to a buying decision.

Below is a look at some recent insider purchases. You can find more information on Benzinga's insider transactions platform.

The Occidental Petroleum Corporation 10% owner Warren E Buffett has a total of 5,985, 190 shares at an average price of $58.89. It cost around $352.49 million to acquire these shares.

Don t forget to check out our premarket coverage here Also check this: Apple To Rally Around 30%? Here are 5 other price target changes for Thursday.